J.M. Financial Asset Reconstruction Company Limited, a financial creditor and member of the Committee of Creditors (CoC), filed I.A. No. 266 of 2019 before the Adjudicating Authority (National Company Law Tribunal), Hyderabad Bench, Hyderabad. The application sought the exclusion of two periods from the Corporate Insolvency Resolution Process (CIRP) of M/s Bheema Cements Ltd. (Corporate Debtor).

The first period requested for exclusion was 135 days, from August 27, 2018, to January 8, 2019. This period was during which the renewal of a mining lease, identified as the main asset of the Corporate Debtor, remained pending. The appellant argued that this delay justified the exclusion from the CIRP timeline.

J.M. Financial Asset Reconstruction Company Limited, a financial creditor and member of the Committee of Creditors (CoC), filed I.A. No. 266 of 2019 before the Adjudicating Authority (National Company Law Tribunal), Hyderabad Bench, Hyderabad. The application sought the exclusion of two periods from the Corporate Insolvency Resolution Process (CIRP) of M/s Bheema Cements Ltd. (Corporate Debtor).

The first period requested for exclusion was 135 days, from August 27, 2018, to January 8, 2019. This period was during which the renewal of a mining lease, identified as the main asset of the Corporate Debtor, remained pending. The appellant argued that this delay justified the exclusion from the CIRP timeline.